Front cover image for Exploring macroeconomics

Exploring macroeconomics

Robert L. Sexton (Author)
Focusing on the core concepts of Macroeconomics and using examples from current events and popular culture, the eight edition makes even classic economic principles modern and relatable.
eBook, English, 2019
Eighth edition View all formats and editions
SAGE Publications, Inc, Thousand Oaks, 2019
1 online resource (688 pages)
9781544337739, 1544337736
1085141515
Part I: IntroductionChapter 1: The Role and Method of Economics 1.1 Economics: A Brief Introduction 1.2 Economic Behavior 1.3 Economic Theories and Models 1.4 Pitfalls to Avoid in Scientific Thinking 1.5 Positive Statements and Normative StatementsChapter 2: Economics: Eight Powerful Ideas 2.1 Idea 1: People Face Scarcity and Costly Trade-Offs 2.2 Idea 2: People Engage in Rational Decision Making and Marginal Thinking 2.3 Idea 3: People Respond Predictably to Changes in Incentives 2.4 Idea 4: Sepcialization and Trade Can Make People Better Off 2.5 Idea 5: Markets Can Improve Economic Efficiency 2.6 Idea 6: Appropriate Government Policies Can Improve Market Outcomes 2.7 Idea 7: Government Policies May Help Stablilize the Economy 2.8 Idea 8: Increasing Producitivty Leads to Economic GrowthChapter 3: Scarcity, Trade-Offs, and Production Possibilities 3.1 The Three Economic Questions Every Society Faces 3.2 The Circular Flow Model 3.3 The Production Possibilities Curve 3.4 Economic Growth and the Production Possibilities CurvePart II: Supply and DemandChapter 4: Demand, Supply, and Market Equilibrium 4.1 Markets 4.2 Demand 4.3 Shifts in the Demand Curve 4.4 Supply 4.5 Shifts in the Supply Curve 4.6 Market Equilibrium Price and QuantityChapter 5: Markets in Motion and Price Controls 5.1 Changes in Market Equilibrium 5.2 Price Controls Chapter 6: Elasticities 6.1 Price Elasticity of Demand 6.2 Total Revenue and the Price Elasticity of Demand 6.3 Other Types of Demand Elasticities 6.4 Price Elasticity of SupplyPart III: Market Efficiency, Market Failure, and the Public SystemChapter 7: Market Efficiency and Welfare 7.1 Consumer Surplus and Producer Surplus 7.2 The Welfare Effects of Taxes, Subsidies, and Price ControlsChapter 8: Market Failure 8.1 Externalities 8.2 Public Policy and the Environment 8.3 Property Rights and the Environment 8.4 Public Goods 8.5 Asymmetric InformationChapter 9: Public Finance and Public Choice 9.1 Public Finance: Government Spending and Taxation 9.2 Public ChoicePart IV: Macroeconomic FoundationsChapter 10: Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations 10.1 Macroeconomic Goals 10.2 Employment and Unemployment 10.3 Types of Unemployment 10.4 Reasons for Unemployment 10.5 Inflation 10.6 Economic FluctuationsChapter 11: Measuring Economic Performance 11.1 National Income Accounting: A Standardized Way to Measure Economic Performance 11.2 Measuring Total Production 11.3 Other Measures of Total Production and Total Income 11.4 Problems in Calculating an Accurate GDP 11.5 Problems with GDP as a Measure of Economic WelfareChapter 12: Economic Growth in the Global Economy 12.1 Economic Growth 12.2 Determinants of Economic Growth 12.3 Public Policy and Economic Growth 12.4 Population and Economic GrowthChapter 13: Financial Markets, Saving, and Investment 13.1 Financial Institutions and Intermediaries 13.2 Saving, Investment, and the Financial System 13.3 The Financial Crisis of 2008Part V: The Macroeconomic ModelsChapter 14: Aggregate Demand and Aggregate Supply 14.1 The Determinants of Aggregate Demand 14.2 The Aggregate Demand Curve 14.3 Shifts in the Aggregate Demand Curve 14.4 The Aggregate Supply Curve 14.5 Shifts in the Aggregate Supply Curve 14.6 Macroeconomic Equilibrium: The Short Run and the Long RunChapter 15: The Aggregate Expenditure Model 15.1 The Simple Aggregate Expenditure Model 15.2 Finding Equilibrium in the Aggregate Expenditure Model 15.3 Adding Investment, Government Purchases, and Net Exports 15.4 Shifts in Aggregate Expenditure and the Multiplier 15.5 From Aggregate Expenditures to Aggregate DemandPart VI: Macroeconomic PolicyChapter 16: Fiscal Policy 16.1 Fiscal Policy 16.2 Fiscal Policy and the AD/AS Model 16.3 The Multiplier Effect 16.4 Supply-Side Effects of Tax Cuts 16.5 Possible Obstacles to Effective Fiscal Policy 16.6 Automatic Stabilizers 16.7 The National DebtChapter 17: Money, Banking, and the Federal Reserve System 17.1 What is Money? 17.2 Measuring Money 17.3 How Banks Create Money 17.4 The Money Multiplier 17.5 The Federal Reserve System 17.6 How Does the Federal Reserve Change the Money Supply? 17.7 Bank FailuresChapter 18: Monetary Policy 18.1 Money, Interest Rates, and Aggregate Demand 18.2 Expansionary and Contractionary Policy 18.3 Money and Inflation-The Long Run 18.4 Problems in Implementing Monetary and Fiscal PolicyChapter 19: Issues in Macroeconomic Theory and Policy 19.1 The Phillips Curve 19.2 The Phillips Curve over Time 19.3 Rational Expectations 19.4 Controversies in Macroeconomic PolicyPart VII: The Global EconomyChapter 20: International Trade 20.1 The Growth in World Trade 20.2 Comparative Advantage and Gains From Trade 20.3 Supply and Demand in International Trade 20.4 Tariffs, Import Quotas, and SubsidiesChapter 21: International Finance 21.1 The Balance of Payments 21.2 Exchange Rates 21.3 Equilibrium Changes in the Foreign Exchange Market 21.4 Flexible Exchange Rates
Part I: Introduction<br />Chapter 1: The Role and Method of Economics<br /> 1.1 Economics: A Brief Introduction<br /> 1.2 Economic Behavior<br /> 1.3 Economic Theories and Models<br /> 1.4 Pitfalls to Avoid in Scientific Thinking<br /> 1.5 Positive Statements and Normative Statements<br />Chapter 2: Economics: Eight Powerful Ideas<br /> 2.1 Idea 1: People Face Scarcity and Costly Trade-Offs<br /> 2.2 Idea 2: People Engage in Rational Decision Making and Marginal Thinking<br /> 2.3 Idea 3: People Respond Predictably to Changes in Incentives<br /> 2.4 Idea 4: Sepcialization and Trade Can Make People Better Off<br /> 2.5 Idea 5: Markets Can Improve Economic Efficiency<br /> 2.6 Idea 6: Appropriate Government Policies Can Improve Market Outcomes<br /> 2.7 Idea 7: Government Policies May Help Stablilize the Economy<br /> 2.8 Idea 8: Increasing Producitivty Leads to Economic Growth<br />Chapter 3: Scarcity, Trade-Offs, and Production Possibilities<br /> 3.1 The Three Economic Questions Every Society Faces<br /> 3.2 The Circular Flow Model<br /> 3.3 The Production Possibilities Curve<br /> 3.4 Economic Growth and the Production Possibilities Curve<br />Part II: Supply and Demand<br />Chapter 4: Demand, Supply, and Market Equilibrium<br /> 4.1 Markets<br /> 4.2 Demand<br /> 4.3 Shifts in the Demand Curve<br /> 4.4 Supply<br /> 4.5 Shifts in the Supply Curve<br /> 4.6 Market Equilibrium Price and Quantity<br />Chapter 5: Markets in Motion and Price Controls<br /> 5.1 Changes in Market Equilibrium<br /> 5.2 Price Controls<br /> Chapter 6: Elasticities<br /> 6.1 Price Elasticity of Demand<br /> 6.2 Total Revenue and the Price Elasticity of Demand<br /> 6.3 Other Types of Demand Elasticities<br /> 6.4 Price Elasticity of Supply<br />Part III: Market Efficiency, Market Failure, and the Public System<br />Chapter 7: Market Efficiency and Welfare<br /> 7.1 Consumer Surplus and Producer Surplus<br /> 7.2 The Welfare Effects of Taxes, Subsidies, and Price Controls<br />Chapter 8: Market Failure<br /> 8.1 Externalities<br /> 8.2 Public Policy and the Environment<br /> 8.3 Property Rights and the Environment<br /> 8.4 Public Goods<br /> 8.5 Asymmetric Information<br />Chapter 9: Public Finance and Public Choice<br /> 9.1 Public Finance: Government Spending and Taxation<br /> 9.2 Public Choice<br />Part IV: Macroeconomic Foundations<br />Chapter 10: Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations<br /> 10.1 Macroeconomic Goals<br /> 10.2 Employment and Unemployment<br /> 10.3 Types of Unemployment<br /> 10.4 Reasons for Unemployment<br /> 10.5 Inflation<br /> 10.6 Economic Fluctuations<br />Chapter 11: Measuring Economic Performance<br /> 11.1 National Income Accounting: A Standardized Way to Measure Economic Performance<br /> 11.2 Measuring Total Production<br /> 11.3 Other Measures of Total Production and Total Income<br /> 11.4 Problems in Calculating an Accurate GDP<br /> 11.5 Problems with GDP as a Measure of Economic Welfare<br />Chapter 12: Economic Growth in the Global Economy<br /> 12.1 Economic Growth<br /> 12.2 Determinants of Economic Growth<br /> 12.3 Public Policy and Economic Growth<br /> 12.4 Population and Economic Growth<br />Chapter 13: Financial Markets, Saving, and Investment<br /> 13.1 Financial Institutions and Intermediaries<br /> 13.2 Saving, Investment, and the Financial System<br /> 13.3 The Financial Crisis of 2008<br />Part V: The Macroeconomic Models<br />Chapter 14: Aggregate Demand and Aggregate Supply<br /> 14.1 The Determinants of Aggregate Demand<br /> 14.2 The Aggregate Demand Curve<br /> 14.3 Shifts in the Aggregate Demand Curve<br /> 14.4 The Aggregate Supply Curve<br /> 14.5 Shifts in the Aggregate Supply Curve<br /> 14.6 Macroeconomic Equilibrium: The Short Run and the Long Run<br />Chapter 15: The Aggregate Expenditure Model<br /> 15.1 The Simple Aggregate Expenditure Model<br /> 15.2 Finding Equilibrium in the Aggregate Expenditure Model<br /> 15.3 Adding Investment, Government Purchases, and Net Exports<br /> 15.4 Shifts in Aggregate Expenditure and the Multiplier<br /> 15.5 From Aggregate Expenditures to Aggregate Demand<br />Part VI: Macroeconomic Policy<br />Chapter 16: Fiscal Policy<br /> 16.1 Fiscal Policy<br /> 16.2 Fiscal Policy and the AD/AS Model<br /> 16.3 The Multiplier Effect<br /> 16.4 Supply-Side Effects of Tax Cuts<br /> 16.5 Possible Obstacles to Effective Fiscal Policy<br /> 16.6 Automatic Stabilizers<br /> 16.7 The National Debt<br />Chapter 17: Money, Banking, and the Federal Reserve System<br /> 17.1 What is Money?<br /> 17.2 Measuring Money<br /> 17.3 How Banks Create Money<br /> 17.4 The Money Multiplier<br /> 17.5 The Federal Reserve System<br /> 17.6 How Does the Federal Reserve Change the Money Supply?<br /> 17.7 Bank Failures<br />Chapter 18: Monetary Policy<br /> 18.1 Money, Interest Rates, and Aggregate Demand<br /> 18.2 Expansionary and Contractionary Policy<br /> 18.3 Money and Inflation-The Long Run<br /> 18.4 Problems in Implementing Monetary and Fiscal Policy<br />Chapter 19: Issues in Macroeconomic Theory and Policy<br /> 19.1 The Phillips Curve<br /> 19.2 The Phillips Curve over Time<br /> 19.3 Rational Expectations<br /> 19.4 Controversies in Macroeconomic Policy<br />Part VII: The Global Economy<br />Chapter 20: International Trade<br /> 20.1 The Growth in World Trade<br /> 20.2 Comparative Advantage and Gains From Trade<br /> 20.3 Supply and Demand in International Trade<br /> 20.4 Tariffs, Import Quotas, and Subsidies<br />Chapter 21: International Finance<br /> 21.1 The Balance of Payments<br /> 21.2 Exchange Rates<br /> 21.3 Equilibrium Changes in the Foreign Exchange Market<br /> 21.4 Flexible Exchange Rates<br />